Do you have a recession proof business?
March 21, 2008
Recessions are a fact of the economic cycle. Despite their regularity, most businesses and households are taken by complete surprise by them. How will your company fare in a recession? Do you have a recession proof business?
Recessions are good
If you are a recognized market leader in your industry, a recession is one of the best things that can happen for you. While your competitors are cutting corners and lowering their ad spends, you are gaining valuable marketshare. Spending doesn’t stop in slow economic cycles, it just gets more choosy. That dose of rationality in your customers buying decisions is going to make you an even more obvious choice. A recession is a great time to use the strategies of Expertisement to reaffirm your position as a market leader.
As the market changes, so should your message. You always want to position yourself as THE answer to their problems. A recession is a great reason to adjust your dialog and expand your own knowledge.
When economic times get tough, are your sales increasing or decreasing? Perhaps you are not taking full advantage of your greatest asset. YOU.
Tell a Friend